For release: February 15, 2013
Contact: Gerald Coggin, Sr. VP of Corporate Relations
Phone: (615) 890-2020
MURFREESBORO, Tenn. — National HealthCare Corporation (NYSE MKT: NHC, NHC.PRA), the nation’s oldest publicly traded long-term health care company, today announced net income available to common shareholders of $49,286,000 or $3.56 per share basic for the year ended December 31, 2012, compared to $55,401,000 or $4.02 per share basic for the year ended December 31, 2011, a decrease of 11.0%. Annual operating revenues in 2012 decreased 1.6% from $773,537,000 to $761,262,000.
For comparative purposes, operating expenses for the 2011 year included a favorable result within our accrued risk reserves of $10,500,000 (approximately $6,825,000 after income taxes or $0.50 per common share basic), thus lowering the 2011 expense. Excluding this adjustment, the year ended December 31, 2012 would have reflected an increase of 4.5% in income before taxes and an increase of 1.5% in net income available to common shareholders (after taxes) compared to 2011.
Fourth quarter of 2012 net income available to common shareholders was $12,266,000 or 88 cents per basic share, compared to $12,358,000 or 89 cents per basic share in the fourth quarter of 2011, a decrease of 0.7%. Operating revenues for the fourth quarter of 2012 increased 0.7% from $192,742,000 to $194,043,000.